Gold Tells a Shocking Story in Venezuelan Currency Terms

From thestreet.com

video Gold's performance in Venezuelan-Bolivar terms comes as a shock to those who blithely assume that the yellow metal is a good hedge against hyperinflation. This isn't to say gold hasn't put up a valiant effort. It has risen 10,700% in Bolivar-denominated terms since the end of August, according to Bullion Rates. But it still hasn't come close to keeping up. According to Claude Erb, a former commodities and fixed income manager at TCW Group, the real price of gold in Venezuelan currency terms has fallen more than 60% over the same period. Erb argues that we shouldn't be surprised by gold's falling short. In a ... (full story)